Bitcoin ETF

this is not your dad­dy’s ETF…

In a huge move a spot bit­coin ETF has been approved and some won­der if this was ever some­thing that real­ly need­ed approval but that is a dif­fer­ent sto­ry.

The price of bit­coin increased lead­ing up to this offi­cial news and it spiked to $49,102.00 before sell pres­sure liq­uid­i­ty and oth­er fac­tors caused a reduc­tion in price which has held at the 41,900 to 43,300 lev­els.

There has been quite a lot of spec­u­la­tion on why this hap­pened but there is always a rea­son and that rea­son is hard­ly ever what they say it is at first.

A great exam­ple of this kind of think­ing is when Bit­coin flash crashed a few days just before and after sev­er­al cryp­to dom­i­nate banks failed.

The sto­ry was that cryp­to crashed because the FED con­tin­ued to increase inter­est rates and also a news sto­ry ran that it was the ukraine war that caused it or a com­bi­na­tion of those two events.

The truth lat­er came out when FTX went under along with a few banks weeks lat­er.

This was the real rea­son why it all went down but no one was telling that truth and even on Google you could see sev­er­al attri­bu­tion relat­ed post­ings all with the idea that it was the FED and Ukraine that caused it, but that was not the truth.

So why is Bit­coin going down instead of up as many thought it would do ear­li­er this month?

The truth is that there were sev­er­al shorts that cre­at­ed this issue along with some liq­ui­da­tions and then the Greyscale bit­coin trust alleged­ly had some sell pres­sure its users gen­er­at­ed.

The thing here is this it is nev­er what they say it is at first.

So the moral to the sto­ry is that you real­ly need to do research even if google will not tell you the truth until lat­er.

When you see a big crash there is always a rea­son…

The fol­low­ing blurb comes from a great pub­li­ca­tion that you real­ly should know about and if you don’t sub­scribe you real­ly should…

If you want to learn more about cryp­to and how it works there are a lot of great places to find more infor­ma­tion.

Coin Mar­ket Cap.

Atlanta Zone

Coin Base

The best way to get into cryp­to is to learn and that is some­thing you can do.